Business Income Tax Release for February

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Form 990-T

Department of the Treasury
Internal Revenue Service

Exempt Organization Business Income Tax Return

(and proxy tax under section 6033(e))

For calendar year 2008 or other tax year beginning APR 1 , 2008 . and ending MAR 31, 2009

OMB No. 1545-0697

2008

Open to Public Inspection for
501(c)(3) Organizations Only

A 1 1 Check box if

address changed

B Exempt under section

E]501(cK3 )

□ 408(e) 1 1220(e)

□ 408A dH 530(a)

1 1 529fa1

Print

or

Type

Name of organization ( EZI Check box if name changed and see instructions.)

WEST VIRGINIA HIGH TECHNOLOGY
CONSORTIUM FOUNDATION

D Employer Identification number
{Employees' trust, see instructions
for Block D on page 9 )

55-0727658

Number, street and room or suite no. If a P.0, box, see page 9 of instructions.

1000 TECHNOLOGY DRIVE. NO. 1000

E Unrelated business activity codes
(See instructions for Block E
on page 9 )

541900

City or town, state, and ZIP code

FAIRMONT. WV 26554

C Book value of all assets
at end of year

38.964.012.

F Group exemption number (See instructions for Block F.) ►

G Check organization type ► 1 X 1 501(c) corporation I I 501(c) trust 1 I 401(a) trust 1 1 Other trust

H Describe the organization's primary unrelated business activity. ► SCIENTIFIC & DEVELOPMENT SERVICES

I During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? ► L J Yes

If “Yes," enter the name and identifying number of the parent corporation. ►

S3 no

J The books are in care of ► STACEY LAYMAN

Telephone number ► 304-366-2577

Unrelated Trade or Business Income

(A) Income

(B) Expenses

(C) Net

1c

562.895.

2

159.800.

3

403.095.

403.095.

4a

4b

4c

5

6

7

8

9

10

11

12

13

403.095.

403.095.

c Balance

1 a Gross receipts or sales 562,895.

b Less returns and allowances

2 Cost of goods sold (Schedule A, line 7)

3 Gross profit Subtract line 2 from line 1c

4 a Capital gain net income (attach Schedule D)

b Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797) . .

c Capital loss deduction for trusts

5 Income (loss) from partnerships and S corporations (attach statement)

6 Rent income (Schedule C)

7C/3Unrelated debt-financed income (Schedule E)

8^ Interest, annuities, royalties, and rents from controlled organizations (Sch. F)
Sgg Investment income of a section 501(c)(7), (9), or (17) organization

2 (Schedule G)

1(hj Exploited exempt activity income (Schedule I)

Ur, Advertising income (Schedule J) '

12 ^ Other income (See instructions; attach schedule.)

13 _ Total. Combine lines 3 through 12

Deductions Not Taken Elsewhere (see instructions for limitations on deductions.)

(Except for contributions, deductions must be directly connected with the unrelated business income.)

s

16

17

18

19

20
21
22

23

24

25

26

27

28

29

30

31

32

33

34

21

22a

Compensation of officers, directors, and trustees (S|

Salaries and wages
Repairs and maintenance

Bad debts

Interest (attach schedule)

Taxes and licenses

Charitable contributions (See instructions for limitation ru
Depreciation (attach Form 4562)

Less depreciation claimed on Schedule A and elsewhere on return

Depletion

Contributions to deferred compensation plans
Employee benefit programs
Excess exempt expenses (Schedule I)

Excess readership costs (Schedule J)

Other deductions (attach schedule)

Total deductions. Add lines 14 through 28 ...

Unrelated business taxable income before net operating loss deduction. Subtract line 29 from line 13

Net operating loss deduction (limited to the amount on line 30)

Unrelated business taxable income before specific deduction. Subtract line 31 from line 30
Specific deduction (Generally $1,000, but see instructions for exceptions) ....

Unrelated business taxable income. Subtract line 33 from line 32. If line 33 is greater than line 32, enter the smaller
of zero or line 32 .. ..

SEE STATEMENT . 1

14

15

16

17

18

19

20

22b

23

24

25

26

27

28

29

30

31

32

33

34

10.992.

285.280.

296.272.

106.823.

106.823.

1 . 000 .

105.823,

823701

3 - 09-09

LHA For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Form990-T (2008)

WEST VIRGINIA HIGH TECHNOLOGY

Form 990-T (2008) rnTJgDRTTTTM T70TTMT1 ATTON 55-07376 58 5g 3

Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property)(see instr. on pg 19 )

1 Description of property

111

ssl

SSL

SSL

2 Rent received or accrued

3(a) Deductions directly connected with the income In
columns 2(a) and 2(b) (attach schedule)

(a) Frorn personal property (if the percentage of
’ rent for personal property Is more than
10% but not more than 50%)

(b) From real and personal property Of the percentage
' 'of rent for personal property exceeds 50% or If
the rent is based on profit or Income)

01

(2)

(3)

(4)

Total 0 .

Total 0 .

(b) Total deductions.

Enter here and on page 1,

Part 1, line 6, column (B) . . ► 0 •

(c) Total income. Add totals of columns 2(a) and 2(b). Enter

here and on page 1, Part 1, line 6, column (A) ^ 0 .

Schedule E - Unrelated Debt-Financed Income (See instructions on page 19)

1 Description of debt-financed property

2 Gross income from
or allocable to debt-
financed property

3 Deductions directly connected with or allocable
to debt-financed property

(3) Straight line depredation
(attach schedule)

(b) Other deductions
(attach schedule)

(i)

(2)

(3)

(4)

4 Amount of average acquisition
debt on or allocable to debt-financed
property (attach schedule)

5 Average adjusted basis
of or allocable to
debt-financed property
(attach schedule)

6 Column 4 divided
by column 5

7 Gross Income
reportable (column
2 x column 6)

8 Allocable deductions
(column 6 x total of columns
3(a) and 3(b))

(i)

%

(2)

%

(3)

%

(4)

%

Totals ►

Enter here and on page 1,

Part 1, line 7, column (A)

0 .

Enter here and on page 1,

Part 1, line 7, column (B)

0 .

Total dividends-received deductions included in column 8

►

0 .

Schedule F - Interest, Annuities, Royalties, and Rents From Controlled Organizations (See instructions on page 20)

1 Name of controlled organization

2

Employer identification
number

Exempt Controlled Organizations

3

Net unrelated income
(loss) (see instructions)

4

Total of specified
payments made

5 Part of column 4 that is
included in the controlling
organization's gross income

6 Deductions directly
connected with income
In column 5

m

(21

(31

J4)

Nonexempt Controlled Organizations

7 Taxable Income

8 Net unrelated income (loss)
(see Instructions)

9 Total of specified payments
made

1 0 Part of column 9 that is included
in the controlling organization's
gross Income

1 1 Deductions directly connected
with income in column 10

(ii

(2)

(3)

(41

1

Totals ... . .►

Add columns 5 and 10
Enter here and on page 1, Part l.
line 8, column (A).

0 .

Add columns 8 and 1 1
Enter here and on page 1, Part 1,
line 8, column (B).

0 .

Form 990-T (2008)

823721 03-09-09

Form 8868

Application for Extension of Time To File an

(Rev. April 2009)

Exempt Organization Return

OMB No. 1545-1709

Department of the Treasury
Internal Revenue Service

► File a separate application for each return.

• If you are filing for an Automatic 3-Month Extension, complete only Part I and check this box ► I I

• If you are filing for an Additional (Not Automatic) 3-Month Extension, complete only Part II (on page 2 of this form).

Do not complete Part II unless you have already been granted an automatic 3-month extension on a previously filed Form 8668.

mm Automatic 3-Month Extension of Time. Only submit original (no copies needed). ~

A corporation required to file Form 990-T and requesting an automatic 6-month extension ■ check this box and complete

Part I only >- [x]

All other corporations (including 1 120-C filers), partnerships, REMICs, and trusts must use Form 7004 to request an extension of time
to file income tax returns.

Electronic Filing (e-file). Generally, you can electronically file Form 8868 if you want a 3-month automatic extension of time to file one of the returns
noted below (6 months for a corporation required to file Form 990-T). However, you cannot file Form 8868 electronically if (1) you want the additional
(not automatic) 3-month extension or (2) you file Forms 990-BL, 6069, or 8870, group returns, or a composite or consolidated Form 990-T. Instead,
you must submit the fully completed and signed page 2 (Part 10 of Form 8868. For more details on the electronic filing of this form, visit
www.irs.gov/eriie and click on e-file for Charities & Nonprofits.

Type or

Name of Exempt Organization

Employer identification number

print

File by the
due date for
tiling your
return. See

WEST VIRGINIA HIGH TECHNOLOGY

CONSORTIUM FOUNDATION

Number, street, and room or suite no. If a P.O. box, see instructions.

1000 TECHNOLOGY DRIVE. NO. 1000

55-0727658

Instructions.

City, town or post office, state, and ZIP code. For a foreign address, see instructions.

FAIRMONT. WV 26554

Check type of return to be filed(file a separate application for each return):

1 1 Form 990

1 X 1 Form 990-T (corporation)

1 1 Form 4720

1 1 Form 990-BL

1 1 Form 990-T (sec. 401(a) or 408(a) trust)

□ Form 5227

□ Form 990- EZ

1 1 Form 990-T (trust other than above)

□ Form 6069

1 1 Form 990-PF

1 1 Form 1041 -A

□ Form 8870

WVHTC FOUNDATION

• The books are in the care of ► 1000 TECHNOLOGY DRIVE - FAIRMONT. WV 26554

Telephone No. ► 304-366-2577 FAX No. ►

• If the organization does not have an office or place of business in the United States, check this box ► I I

• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) . If this is for the whole group, check this

box ► I I . If it is for part of the group, check this box ► I I and attach a list with the names and EINs of all members the extension will cover.

1 I request an automatic 3-month (6-months for a corporation required to file Form 990-1) extension of time until

FEBRUARY 15. 2010 , to file the exempt organization return for the organization named above. The extension

is for th e organization's return for:
calendar year or

► IX] tax year beginning APR 1 , 2008 , and ending MAR 31 . 2009 .

2 If this tax year is for less than 12 months, check reason: I I Initial return I I Final return 1 I Change in accounting period

3a

If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any
nonrefundable credits. See instructions.

3a

m

25.196.

b

If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated
tax payments made. Include anv prior vear overpayment allowed as a credit.

3b

$

0 .

c

Balance Due. Subtract line 3b from line 3a. Include your payment with this form, or, if required,
deposit with FTD coupon or, if reauired. bv usina EFTPS Electronic Federal Tax Payment Svsteml.
See instructions. \ On €

n

■

25.196.

Caution. If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment instructions.

LHA For Privacy Act and Paperwork Reduction Act Notice, see Instructions. Form 8868 (Rev. 4-2009)

823631

WEST VIRGINIA HIGH TECHNOLOGY CONSORTIUM

55-0727658

FORM 990-T

OTHER DEDUCTIONS

STATEMENT 1

DESCRIPTION
OTHER DIRECT COSTS

TOTAL TO FORM 990-T, PAGE 1, LINE 28

AMOUNT

285,280.

285,280.

STATEMENT ( S ) 1

WEST VIRGINIA HIGH TECHNOLOGY

Form 880 -t ( 2008 ) CONSORTIUM FOUNDATION 55-0727658 Pa * e *

o Schedule G - Investment Income of a Section 501(c)(7), (9), or (17) Organization

*' (see instructions on page 21)

1 Description of income

2 Amount of income

4 Set-asides
(attach schedule)

5 Total deductions
and set-asides
(col. 3 plus col 4)

(i)

(2)

(3)

(4)

Enter here and on page 1,

Enter here and on page 1,

Part 1, line 9, column (A).

J j'-ll rilL'-'S*' r

>.-T 'i ^ :

Part 1, line 9, column (B)

Totals ^

0.

Schedule I - Exploited Exempt Activity Income, Other Than Advertising Income

(see instructions on page 21)

1 Descnption of
exploited activity

2 Gross

unrelated business
income from
trade or business

3 Expenses
directly connected
with production
of unrelated
business income

4 Net income (loss)
from unrelated trade or
business (column 2
minus column 3). If a
gain, compute cols 5
through 7

5 Gross income
from activity that
is not unrelated
business Income

6 Expenses
attributable to
column 5

7 Excess exempt
expenses (column
6 minus column 5,
but not more than
column 4)

(i)

(2)

(3)

(4)

Totals ►

Enter here and on
page 1, Part l,
line 10, col (A)

0.

Enter here and
on page 1,

Part II, line 26

0.

Schedule J - Advertising Income (see instructions on page 21)

Income From Periodicals Reported on a Consolidated Basis

1 Name of periodical

2 Gross
advertising
Income

3 Direct

advertising costs

4 Advertising gain
or Goss) (col. 2 minus
col 3) If a gain, compute
col3. 5 through 7.

5 Circulation
income

6 Readership
costs

7 Excess readership
costs (column 0 minus
column 5, but not more
than column 4)

(D

(2)

& CV' ^

(3)

(4)

tflll

Totals (carrv to Part II. line (5)) .

H

0.

0.

0.

Income From Periodicals Reported on a Separate Basis (For each periodical listed in Part n.fiii in
columns 2 through 7 on a line-by-line basis.)

1 Name or periodical

2 Gross
advertising

3 Direct

advertising costs

4 Advertising gain
or (loss) (col 2 minus
col 3) If a gain, compute
cols, 5 through 7

5 Circulation
income

6 Readership
costs

7 Excess readership
costs (column 6 minus
column 5, but not more
than column 4)

(i)

( 2 )

(3)

(4)

(5) Totals from Part I

Enter here and on
page 1, Part I,
line 11, col (A)

Totals. Part II (lines 1-5)

0 .

Enter here and on
page 1, Part I,
line 11, col. (B).

0 .

Enter here and
an page 1,
Part II, line 27

Schedule K - Compensation of Officers, Directors, and Trustees (see instructions on page 22)

1 Name

2 Title

3 Percent of
time devoted to
business

4 Compensation attributable
to unrelated business

%

%

%

%

Total. Enter here and on oaae 1. Part II, line 14 ......

0.

023731

03 - 09-09

Form 990-T (2008)

WEST VIRGINIA HIGH TECHNOLOGY
Form 090 -t (2008) CONSORTIUM FOUNDATION

55-0727658

Pago 2

Tax Computation

35

Organizations Taxable as Corporations. See instructions for tax computation.

Controlled group members (sections 1561 and 1563) check here ► I i See instructions and:
Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order):

(1) IL

(2) ls_

(3) Ll_

Enter organization's share of: (1) Additional 5% tax (not more than $1 1,750)
(2) Additional 3% fax (not more than $1 00,000)

Income fax on the amount on line 34

14_

14.

36

37

38

39

Trust s Taxable at Trust Rates. See instructions for tax computation. Income tax on the amount on line 34 from:

I I Tax rate schedule or | I Schedule D (Form 1041)

Proxy tax. See instructions
Alternative minimum tax

Total. Add lines 37 and 38 to line 35c or 36, whichever applies

24.521,

24,521.

Tax and Payments

40a

40b

40c

40d

40a Foreign tax credit (corporations attach Form 1118; trusts attach Form 1 1 16)
b Other credits (see instructions)
c General business credit Attach Form 3800
d Credit for prior year minimum tax (attach Form 880 1 or 8827)
e Total credits. Add lines 40a through 40d

41 Subtract line 40e from line 39

42 Other taxes. Check if from: [Hi Form 4255 CHI Form 86 1 1 CHI Form 8697 HH Form 8866 I I Other (attach schedule)

43 Total tax. Add lines 41 and 42

44 a Payments: A 2007 overpayment credited to 2008
b 2008 estimated tax payments

c Tax deposited with Form 8868

d Foreign organizations: Tax paid or withheld at source (see instructions) .
e Backup withholding (see instructions)

f Other credits and payments: [HI Form 2439

I I Form 4136 □ Other Total ►

45 Total payments. Add lines 44a through 44f

46 Estimated tax penalty (see instructions). Check if Form 2220 is attached ► [x]

47 Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed

48 Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid . . .

49 Enter the amount of line 48 you want Credited to 2009 estimated tax ►

40e

41

42

44a

1

44b

1

44c

25,196 J

44d

1

44e

j

44f

1

. ►

494.1 Refunded ►

43

45

46

47

48

49

24.521,

24.521,

25.196,

181,

494,

IH

Statements Regarding Certain Activities and Other Information (See instructions on page 18 )

At any time during the 2008 calendar year, did the organization have an interest in or a signature or other authority over a financial account
(bank, securities, or other) in a foreign country? If YES, the organization may have to file Form TD F 90-22.1, Report of Foreign Bank and
Financial Accounts. If YES, enter the name of the foreign country here ► _

During the tax year, did the organization receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?
If YES, 6ee page 5 of the instructions for other forms the organization may have to file

Enter the amount of tax-exempt interest received or accrued during the tax year ► $

Schedule A - Cost Of Goods Sold. Enter method of inventory valuation ^

N/A

1 Inventory at beginning of year

2 Purchases

3 Cost of labor

4 a Additional section 263A costs
b Other costs (attacfTschedule)

5 Total. Addlines 1 through 4b

1

0.

n

n

HilliTiliW

n

si

«

159.800.

6 Inventory at end of year

7 Cost of goods sold. Subtract line 6
from line 5. Enter here and in Part I, line 2

8 Do the rules of section 263A (with respect to

property produced or acquired for resale) apply to
the organization?

159.800

Sign

Here

iave examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, It Is true,
farer (other than taxpayer) is based on all information of which preparer has any knowledge

Date

PRESIDENT /CEO

Title

May the IRS discuss this return with
the preparer shown below (see
Instructions)? fxl Yes □ No

Paid

Preparer’s
Use Only

Date

02/08/10

Check if

selt-employed I i

yoursir seif- TOOTHMAN RICE,

employed),

P.L.L.C.

H kl000 TECHNOLOGY DRIVE, SUITE 2210

address, and ’

ZIP code r FAIRMONT. W V 2 6554

Preparer's SSN or PTIN

■c n r n i

ElN 55-0521993

Phone no.

304-363-2220

Form 990-T (2008)

823711 03-09-09